Potensi dan Cabaran Pelaksanaan Pembrokeran Digital dalam Pasaran Saham Patuh Syariah Malaysia/ Potential and Challenges in Implementing Digital Brokerage for Malaysia's Shariah-Compliant Stock Market

Malaysia is aimed at becoming a global leader in the Islamic Capital Market (ICM) by the Securities Commission (SC). One of the SC's efforts is to support the Islamic capital market business model based on fintech technology. However, the SC has only recognized one full digital broker to date. This was qualitative research using data collected through a content analysis methodology. The research was conducted in parallel with previous studies on digital brokers in the conventional capital market, namely in terms of risk, opportunity, and problems of Islamic digital brokers. The results showed that the possibility of introducing digital brokers for PMI is to make Malaysia a major service provider in worldwide PMI, luring young investors and non-Muslim investors, offering opportunities for product innovation, and broadening investment platforms. The problems in implementing digital brokers include legislation, cyber security, increasing awareness, developing confidence, and relevance to current trends.